Your Property Wish List - What do you want in a home?

Below I have displayed a few questions and a check list of questions to ask when looking for a property to move in to. The importance of this exercise becomes apparent when a situation arises such as a multiple offer situation where you and someone else is bidding on the property. You, the buyer, have more confidence in negotiations when you know what you are looking for.

Knowing a property wish list streamlines the search process and helps keep the sanity of you and the real estate agent you have hired.

It saves time, energy and frustration. Plus, when you have a strong understanding of what you want, you can weed out the crap and focus on the homes that energize and excite.

Please feel free to cut n paste this.................

Your Property Wish List

• While your opinions on the type of home you want to own may change during the homebuying process, use this easy checklist to help you prioritize and make the shopping process less time consuming.
• How close do you need to be to: (a) public transportation _______ (b) schools _______ (c) airport _______ (d) expressway _______ (e) neighborhood shopping _______ (f) other_______?

• What neighborhoods would you prefer?
• What school systems do you want to be near?
• What architectural style(s) of homes do you prefer?
• Do you want a one-story or two-story house?
• How old a home would you consider?
• How much repair or renovation would you be willing to do?
• Do you have special facilities or needs that your home must meet?
• Do you require a fenced yard or other amenities for your pets?

Prioritize each of these options into: Would prefer Must have

Yard (at least_________)
Garage (size________)
Patio/Deck
Pool
Bedrooms (number_________)
Bathrooms (number_________)
Family room
Formal living room
Formal dining room
Eat-in kitchen
Laundry room
Basement
Attic
Fireplace
Spa in bath
Air conditioning
Wall-to-wall carpet
Hardwood floors
View
Light (windows)
Shade

Tax Season is Fast Approaching - Tips you need to Ask

5 Property Tax Questions You Need to Ask

1. What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller’s tax bill to help you determine this information.

2. How often are properties reassessed and when was the last reassessment done? Generally taxes jump most significantly when a property is reassessed.

3. Will the sale of the property trigger a tax increase? Often the assessed value of the property may increase based on the amount you pay for the property. And in some areas, such as California, taxes may be frozen until resale.

4. Is the amount of taxes paid comparable to other properties in the area? If not, it might be possible to appeal the tax assessment and lower the rate?

5. Does the current tax bill reflect any special exemptions that you might not qualify for? For example, many tax districts offer reductions to those 65 or over.

Investment Property Analysis

This is a good read. As people look to invest in real property to diversify their earning capability, there are many things to consider before committing monies to a project.